African cryptocurrency firm Yellow Card has secured a $40 million funding round backed by Standard Chartered and Sony, marking a significant step in the company's strategic shift toward business-to-business stablecoin infrastructure.
The investment comes as Yellow Card winds down its retail trading application to focus exclusively on serving institutional clients.
The firm aims to capture a share of the estimated $40 billion market for cross-border payments and stablecoin services in Africa, leveraging its existing network and regulatory expertise.
The firm aims to capture a share of the estimated $40 billion market for cross-border payments and stablecoin services in Africa, leveraging its existing network and regulatory expertise.
Standard Chartered's participation underscores the bank's broader commitment to digital asset infrastructure in emerging markets.
The lender has previously signaled its intent to expand its footprint in the region's fintech ecosystem, aligning with its global strategy to integrate digital currencies into traditional banking services.
Sony's involvement highlights the growing interest from non-financial corporations in blockchain technology and digital payment solutions.